Ancient Coins And Legal Tender

by Charles Roman

What is Numismatics?

Numismatics - the very name sounds mysterious and evocative. In
simple terms, numismatics covers the science and study of coins,
cash, and other legal tender, as well as medals, tokens, and
medallions. The collection of ancient, commemorative, and rare
coins is a fun and exacting hobby, and opens up a realm of
history that most people never get to see. A numismatist holds
an ancient coin that has passed through dozens or hundreds of
hands throughout the millennia. In medieval times, the
collection of ancient coins was already popular, but it was
known as a hobby for kings. Today, building a fascinating
collection of coins does not have to be expensive, and everyone
can participate in this exciting pastime.

How do I Start Collecting Coins and Legal Tender?

When deciding which coins to collect, you should consider your
interests, your budget, and your return on investment.

The first step when building a collection of coins is to decide
what category of legal tender interests you most. Some people
like to focus their collections on specific precious metals,
such as gold, silver, copper, or bronze coins. Others like to
concentrate on a specific time or region, like ancient Roman
coins. Commemorative coins are a popular form of collection, as
are rare minted coins like those which had an error in their
stamping. If a certain set of coins doesn't interest you, it
won't be any fun at all to become a collector.

Another interesting choice for numismatists is a token
collection. Tokens were historically used in place of legal
tender, if coins of the right value were not available, or were
not convenient. In the modern day, tokens are still used at
gaming arcades and some vending machines. Tokens may not be as
valuable as true moolah, but they are an interesting look at
local history, and can be fun to collect.

The price of a rare coin depends on supply and demand. If only
a few coins were made but there are tons of collectors, it will
be very expensive to start that kind of collection. Ironically,
ancient coins are some of the most inexpensive and most
interesting coins to collect. Because of the large number of
coins in circulation between 650 BC, when stamping coins became
popular, to the fall of the Roman Empire in 450 AD, tons of
coins were created, and more are being uncovered every day.
Common bronze coins that were being used in the time of
Archimedes can be bought for about $10 apiece.

The third, and probably least important thing to consider when
starting your collection is the likelihood that your coins will
increase in value. Coin collecting for investment purposes can
be a tricky endeavor. There is always the possibility that the
coins you buy will include counterfeits, and the coin market
can fluctuate even more wildly than other kinds of investment.
For these reasons, it is probably wiser for you to focus on
building a collection of coins, tokens, or legal tender that
you enjoy than to build your collection with an eye on getting
a large return on investment. However, high-grade ancient
coins, gold coins, Morgan dollars and Walking Liberty half
dollars are among the kinds of collections that are most likely
to increase in value over time.